2. Compute equivalent units using the weighted average method. Weighted average method: Equivalent Units Direct Materials x Conversion Costs 3. Compute equivalent units using the FIFO method. Equivalent Units FIFO method: Direct Materials Conversion Costs Feedback Check My Work 95,500✔ 4. Suppose that the cost of direct materials in beginning work in process is $656,300 and that the direct materials cost incurred for October is $717,400. With these changes, answer the following: a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent.
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
I want last three requirement with detail working
I want last three requirement with detail working
I want last three requirement with detail working
please answer within the format by providing formula the detailed working
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Please provide answer in text (Without image)
Please provide answer in text (Without image)
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